what color schemes are of interest? thresholds/values/above what?/below what?/equal what?


for MA color alerts?

I am still using Jeff's excellent Reversals V6_3 indicator attached & I have a coding request for which I am happy to pay : I also attach a Market Analyzer window into which I have inserted the indicator in 3 timeframes.

I would like the MA cells to color & alert as per the indicator when the relevant setup plots. I have no idea how to configure the MA Alert & Cell Conditions.

Anyone williing to do this, please ?

As some of you know I have been working for the last month on three set ups. I thought I'd take a minute and share the results of this effort. The win rate for these trades is over 90% in the last 30 days.

I have been trading CL using a 15 minute chart. These set ups are as follows: INSIDE BAR, OUTSIDE (ENGULFING) BAR AND REVERSAL BAR.

INSIDE BAR: This is the simplest set up of the three. If the current bar closes within the previous bar.....set a buy or sell stop 1 tick above/below the inside bar and put your stop at the opposite end +1 tick. The Reversals v4 indicator paints the inside bar yellow so you can't miss it. The psychology of the trade is that there is indecision in the market and you simply get on board when the market makes up its' mind which way it's going.

OUTSIDE BAR: On this set up you do NOT wait for bar close for your entry......you enter WHEN the previous bar is being engulfed. You still use a buy/sell stop and place your stop at the opposite end of the outside bar +1. The psychology of this trade is a CHANGE in sentiment.......first going one way and then the other.

REVERSAL BAR: This set up is a little tougher........the key is to recognize that this bar MUST occur AFTER an up/down move on higher volume. The wick on the bar (candle) must be approximately 2/3 of the entire bar. The psychology of this trade is that at extreme levels (after a good move) that prices will attract buyers/sellers.

NOTE: I didn't invent these trades........I actually read about them about a year ago and never really persued them until now. I didn't remember where I read about them but......thanks to Silvester 17 my memory has been refreshed !!! These basic set ups were presented by Malcolm Robinson ( a good trader and teacher.) He didn't invent them either ! lol These are well known Japanese Candlestick Patterns that have been around for centuries.

I'm posting yesterdays chart......which was good for 148 ticks on CL.

I've got Roonius working on an improved version of the Reversal v4 but I'll post the current version with the template that I am using.

If you have some experience trading these set ups I'd be interested in hearing from you.

Thanks, Jeff

..

great indicator,,,,question:

does it generate a signal during the bar candle formation OR after bar candle closes ? (particularly for the reversal bar setup)

Hey All,
I don't think this was discussed in this thread. It's a rare occurrence but what if you get 2 patterns in a row OB followed by IB? Are the probability higher or the same? Should stops be adjusted to the OB low or high? Should you only trade the IB in the direction breakout of the previous OB? It comes down to contexts but we'll stick with the thread. Below are examples of OB and IB in different TF's.

Attached is a 60 min chart example, OB_IB - babypowder's library
Attached is a 15 min chart example, OB and IB - babypowder's library
Attached is a 5 min chart example, OB and IB - babypowder's library

This is just something to look at and dissect.